Shell Midstream Partners, L.P. (SHLX) Financial Statements (2024 and earlier)

Company Profile

Business Address 150 N. DAIRY ASHFORD
HOUSTON, TX 77079
State of Incorp. DE
Fiscal Year End December 31
Industry (SIC) 461 - Pipelines, Except Natural Gas (benchmarking)
More info Complete Financial Analysis Financial Benchmarking

Balance Sheet (Statement of Financial Position) ($ in thousands)

6/30/2022
MRQ
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
ASSETS
Current Assets
Cash, cash equivalents, and short-term investments 360,000320,000289,000208,000137,700121,900
Cash and cash equivalents 360,000320,000289,000208,000137,700121,900
Receivables 56,00041,00041,00047,50041,00028,500
Prepaid expense 26,00024,00016,00015,40012,5006,000
Other undisclosed current assets 23,0009,00013,00012,70012,4009,000
Total current assets: 465,000394,000359,000283,600203,600165,400
Noncurrent Assets
Finance lease, right-of-use asset, after accumulated amortization  16,000 
Operating lease, right-of-use asset 3,0004,0004,000
Property, plant and equipment 1,344,000699,000726,000742,400736,500398,000
Long-term investments and receivables 974,0001,013,000926,000822,900424,700302,200
Long-term investments 974,0001,013,000926,000822,900424,700302,200
Regulated entity, other noncurrent assets  2,000 3,300  
Other noncurrent assets 2,0002,0002,0002,5001,700 
Other undisclosed noncurrent assets (470,000)217,0002,00058,800  
Total noncurrent assets: 1,853,0001,953,0001,660,0001,629,9001,162,900700,200
TOTAL ASSETS: 2,318,0002,347,0002,019,0001,913,5001,366,500865,600
LIABILITIES AND EQUITY
Liabilities
Current Liabilities
Accounts payable and accrued liabilities 15,00015,00017,00017,00016,7007,100
Accounts payable 4,0005,0005,0004,0004,0001,500
Accrued liabilities 11,00010,00012,00013,00012,7005,600
Deferred revenue 2,0004,000 
Debt 1,0001,0001,000   
Deferred revenue and credits19,40013,900
Due to related parties 417,00016,00010,0008,90011,6005,200
Contract with customer, liability8,000
Other undisclosed current liabilities 54,00046,00018,00018,3007,2005,100
Total current liabilities: 489,00082,00046,00052,20054,90031,300
Noncurrent Liabilities
Long-term debt and lease obligation 27,00028,00028,00025,10024,30024,900
Capital lease obligations25,10024,30024,900
Finance lease, liability 23,00024,00024,000
Liabilities, other than long-term debt 2,295,0002,695,0002,694,0002,090,7001,853,200689,500
Deferred revenue and credits2,6002,100
Deferred revenue 3,0003,0002,000
Asset retirement obligations     6,6001,400
Due to related parties 2,292,0002,692,0002,692,0002,090,7001,844,000686,000
Operating lease, liability 4,0004,0004,000
Other undisclosed noncurrent liabilities    2,500  
Total noncurrent liabilities: 2,322,0002,723,0002,722,0002,118,3001,877,500714,400
Total liabilities: 2,811,0002,805,0002,768,0002,170,5001,932,400745,700
Equity
Equity, attributable to parent (8,000)(9,000)(8,000)   
Accumulated other comprehensive loss (8,000)(9,000)(8,000)   
Other undisclosed equity (485,000)(449,000)(741,000)(257,000)(565,900)119,900
Total equity: (493,000)(458,000)(749,000)(257,000)(565,900)119,900
TOTAL LIABILITIES AND EQUITY: 2,318,0002,347,0002,019,0001,913,5001,366,500865,600

Income Statement (P&L) ($ in thousands)

6/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Revenues 556,000481,000503,000524,700470,100291,300
Revenue, net 291,300
Cost of revenue (267,000)(257,000)(210,000)(200,600)(155,700)(75,700)
Gross profit: 289,000224,000293,000324,100314,400215,600
Operating expenses (57,000)(55,000)(78,000)(111,900)(114,300)(55,100)
Operating income: 232,000169,000215,000212,200200,100160,500
Nonoperating income
(Other Nonoperating income)
 391,000457,000423,000333,100224,000117,200
Interest and debt expense (82,000)(90,000)(92,000)(61,000)(29,400) 
Income from continuing operations before equity method investments, income taxes: 541,000536,000546,000484,300394,700277,700
Other undisclosed income (loss) from continuing operations before income taxes 27,00020,000 (1,500)(2,800)(12,300)
Income from continuing operations before income taxes: 568,000556,000546,000482,800391,900265,400
Income tax expense    (400)(100) 
Income from continuing operations: 568,000556,000546,000482,400391,800265,400
Income before gain (loss) on sale of properties:568,000556,000546,000482,400391,800265,400
Net income: 568,000556,000546,000482,400391,800265,400
Net loss attributable to noncontrolling interest (12,000)(13,000)(18,000)(18,300)(19,200)(20,500)
Other undisclosed net loss attributable to parent     (77,300) 
Net income attributable to parent: 556,000543,000528,000464,100295,300244,900
Other undisclosed net loss available to common stockholders, basic  (36,000)    
Net income available to common stockholders, diluted: 556,000507,000528,000464,100295,300244,900

Comprehensive Income ($ in thousands)

6/30/2022
TTM
12/31/2021
12/31/2020
12/31/2019
12/31/2018
12/31/2017
12/31/2016
Net income: 568,000556,000546,000482,400391,800265,400
Other comprehensive income (loss) 1,000(1,000)(2,000)   
Comprehensive income: 569,000555,000544,000482,400391,800265,400
Comprehensive loss, net of tax, attributable to noncontrolling interest (12,000)(13,000)(18,000)(18,300)(19,200)(20,500)
Comprehensive income, net of tax, attributable to parent: 557,000542,000526,000464,100372,600244,900

Statements Sources

The financial statements are based on the Company's filings with the U.S. Securities and Exchange Commission (SEC) through the Electronic Data Gathering, Analysis, and Retrieval system (EDGAR). The information is derived from the 10-K and 10-Q reports submitted to the SEC in XBRL (eXtensible Business Reporting Language) format and presented according to the US GAAP Taxonomy. Please review the original filings for a more detailed information.

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